INSTANT MBA: Don't Aspire For A Higher Title

"If you see something that we're not doing right and you don't say something, then it's on you. If you think that everyone on the leadership team is taking into account everything that could possibly go wrong, you're wrong. It's everybody's responsibility to help us run this company better than we can do it by ourselves."

Merrin decided to eliminate titles at his global liquidation firm to encourage people from all levels to speak up. As a result of this policy, he says that he'll often be corrected by college interns during meetings.

"Having no titles is symbolic, but it really works ... I don't want people to aspire to get a higher title. I want people to aspire to take on more responsibility. More responsibility gets them more recognition."

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